INVESTOR & ANALYST PRESENTATION. H August 2017
|
|
- Claud Bates
- 5 years ago
- Views:
Transcription
1 INVESTOR & ANALYST PRESENTATION H August 2017
2 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions, product approvals and financial performance. Such forward-looking statements are subject to risks, uncertainties and inaccurate assumptions. This may cause actual results to differ materially from expectations and it may cause any or all of our forwardlooking statements here or in other publications to be wrong. Factors that may affect future results include interest rate and currency exchange rate fluctuations, delay or failure of development projects, production problems, unexpected contract breaches or terminations, government-mandated or market-driven price decreases for Lundbeck's products, introduction of competing products, Lundbeck's ability to successfully market both new and existing products, exposure to product liability and other lawsuits, changes in reimbursement rules and governmental laws and related interpretation thereof, and unexpected growth in costs and expenses. Lundbeck undertakes no duty to update forward-looking statements. Certain assumptions made by Lundbeck are required by Danish Securities Law for full disclosure of material corporate information. Some assumptions, including assumptions relating to sales associated with products that are prescribed for unapproved uses, are made taking into account past performances of other similar drugs for similar disease states or past performance of the same drug in other regions where the products are currently marketed. It is important to note that although physicians may, as part of their freedom to practice medicine in the US, prescribe approved drugs for any use they deem appropriate, including unapproved uses, at Lundbeck, promotion of unapproved uses is strictly prohibited. 2
3 Lundbeck who are we? Danish based, global pharmaceutical company. Founded in 1915 Production sites in Denmark, France and Italy Pursuing category leadership in four disease categories in CNS: Alzheimer s, mood disorders, Parkinson s and psychotic disorders Innovative treatments for patients in diseases with high unmet medical needs Experienced management team and long history as CNS specialists 2017 financial guidance: Revenue: DKK bn and EBIT: DKK bn Market cap: DKK ~75bn (USD ~12bn) ~5,000 employees 3
4 Revenue grows 13%, EBIT doubles in H1 2017, and 2017 guidance is raised Total revenue increased by 13% to DKK 8.5 billion Key products grew 44% to DKK 4.2 billion representing 49% of revenue EBIT doubled to DKK 2.1 billion and EBIT margin significantly improved to 24.3% EPS grew 186% to DKK 6.06 Net cash improved by DKK 2.8 billion since Q Guidance raised following better operational performance and Other Operating Income Abilify Maintena approved by the US FDA for bipolar I disorder and Azilect approved in China for Parkinson s 4
5 Key products exceed DKK 4 billion in H up 44% y/y DKKm % H % FY ,114 67% DKKm % H % FY % DKKm % H % FY ,105 76% DKKm % H ,448 28% FY ,409 37% DKKm % H % FY , % 5
6 Strong revenue growth of 13% to DKK 8.5 billion, EBIT margin improved from 12.7% to 24.3% Revenue* (DKKm) Regional split* (DKKm) EBIT margin 30% Key products Other mature products Europe: (1%) Int. Markets: +8% North America: +22% H H H H % 23% 57% 17% 22% 61% 25% 20% 15% 10% 5% 0% -5% -10% -50% *) Excluding Other revenue 6
7 Abilify Maintena grew 23% to DKK 659 million in H primarily driven by non-us markets Share of total market *) Abilify Maintena (DKKm) Highlights 18% 15% 12% 9% 6% 3% RoW North America Growth mainly driven by Australia, Canada, Spain, Italy and France 10-20% value market share (LAI retail) in most markets Bipolar I disorder snda approved by the US FDA Total LAI antipsychotic market was USD ~2bn in H1 2017*) 0% Q2.15 Q2.16 Q Q2.14 Q2.15 Q2.16 Q2.17 Y/Y growth of 10% *) Based on quarterly reports from Lundbeck, Otsuka, Alkermes and Johnson & Johnson Lundbeck s share of revenue 7
8 Brintellix/Trintellix grew 61% to DKK 778 million in H with non-us adding to growth Total R x count (US retail) Brintellix/Trintellix (DKKm) Highlights Viibryd RoW North America Q2.14 Q2.15 Q2.16 Q2.17 Growth mainly driven by Brazil, Canada, France, Italy and the US More than 1% volume share in major countries such as France, Italy, Mexico and Spain Second CRL received from US FDA on snda (cognition) Demonstrated efficacy in cognitive dysfunction and functional capacity Source: Bloomberg (monthly data ending 7/2017) 8
9 Rexulti grew 85% to DKK 574 million in H Total R x count (US retail) Rexulti sales (DKKm) Highlights Branded NR x and TR x shares of 15% and 13% respectively* More than 1% total market share (volume)* 80% of R x prescribed for MDD Vraylar Phase III study in bipolar mania to start in H Launched in Canada and recently approved in Australia Q4.15 Q2.16 Q4.16 Q2.17 European MAA submitted for schizophrenia in Q Source: Bloomberg (monthly data ending 7/2017) Lundbeck s share of revenue *) Week ending 2 July
10 Northera continues to show strong growth Total US R x Northera (DKKm) Highlights Northera grew 60% to DKK 716 million in H Northera is expected to continue to grow Source: Bloomberg (monthly data ending 7/2017) 0 Q2.15 Q2.16 Q
11 Onfi continues its solid growth momentum Total R x Count (US) Onfi (DKKm) Highlights Onfi grew 28% to DKK 1,448 million in H Onfi is expected to continue to grow Source: Bloomberg (monthly data ending 7/2017) 0 Q2.14 Q2.15 Q2.16 Q
12 North America grew 22% driven by Northera, Rexulti and Trintellix Revenue in North America (DKKm) +22% Key products # Other products Highlights North America grew 22% to DKK 5,115 million in H In Q2 2017, the region grew 23% to DKK 2,678 million Rexulti has ~1% volume share in the US Trintellix has ~0.6% and ~0.8% in volume share in the US and Canada, respectively North America s contribution*) North America 61% Rest of World 39% 0 H H #) Abilify Maintena, Northera, Onfi, Rexulti and Trintellix *) Excluding Other revenue 12
13 International Markets grew 8% with Brazil, China and Japan as major contributors Revenue in International Markets (DKKm) % Key products Other products H H Highlights International Markets constitutes 22% of total revenue Key products up 91% in H driven by Abilify Maintena and Brintellix Azilect approved in China Brintellix approval in China expected around year-end 2017 International Markets contribution*) Int. Markets 22% *) Excluding Other revenue Rest of World 78% 13
14 Europe starts to improve driven by Abilify Maintena and Brintellix Revenue in Europe (DKKm) Highlights Europe s contribution*) (1%) Key products # Other products Europe declined 1% to DKK 1,433 million in H1 2017, but was up 3% in Q and reached DKK 724 million Strong performance for Brintellix, especially in France, Italy and Spain Rxulti submitted in Europe in March 2017 (schizophrenia) Europe 17% Rest of World 83% 0 H H Market value (EU5) of our four disease areas: USD 3.7bn #) Abilify Maintena and Brintellix *) Excluding Other revenue 14
15 R&D in Lundbeck Innovation focused across four key disease areas Alzheimer s disease Mood disorders Parkinson s disease Psychotic disorders 15
16 Continued progression in our R&D pipeline with two approvals and upstart of additional trials Highlights Abilify Maintena approved by US FDA for bipolar I disorder Abilify Maintena 2-month formulation in development* Azilect approved in China New study (Anew) started with Lu AF35700** US FDA issue second CRL regarding inclusion of cognition data in Trintellix label Early pipeline progressing *) NCT **) NCT
17 Brexpiprazole showed improvements in symptoms of agitation relative to placebo in Alzheimer s agitation Study I (NCT ) Study II (NCT ) Comments N = 413 patients 1 mg, 2 mg and placebo 12 weeks treatment duration Main recruitment centers: Russia, Ukraine and USA CMAI 1) : 2 mg statistically superior to placebo CGI-S 2) : 2 mg not statistically superior to placebo N = 270 patients Flexible dose: mg 12 weeks treatment duration Main recruitment centers: Russia, Ukraine and USA CMAI 1) : mg not superior to placebo CGI-S 2) : mg superior to placebo Geography played a major role, with US patients responding well and patients in Russia responding poorly If Russian sites are excluded from both studies, p-value for both studies on CMAI primary endpoint is <0.05 1) Primary efficacy endpoint: Cohen-Mansfield Agitation Inventory (CMAI) total score, a 29-item scale to systematically assess the symptoms of agitation 2) Key secondary efficacy endpoint: Clinical Global Impression-Severity of Illness (CGI-S) score, a 7-point scale assessing overall severity of the patient's agitation 17
18 Brexpiprazole in pivotal programme in Alzheimer s agitation The condition The studies Clinical programme >20% of individuals in a community setting and >50% of nursing home residents with dementia have agitation >1.5m dementia patients in the US with agitation / aggression Agitation in Alzheimer s is associated with increased caregiver burden, decreased functioning and earlier nursing home placement Study #1 (12 weeks) (NCT ) Study #2 (12 weeks) (NCT ) 413 patients 270 patients 1 mg and 2 mg mg (flexible dose) Study start: July 2013 Study start: June 2013 Target population: Institutionalized or noninstitutionalized setting Primary outcome: Change in the Cohen-Mansfield Agitation Inventory (CMAI) total score Type C meeting requested at US FDA Fast Track Designation granted February
19 Brexpiprazole enters Proof-of-Concept study in Post-traumatic Stress Disorder (PTSD) PTSD The PoC study* ) ~8.6m American adults affected 1), but ~80% is undiagnosed Growing economic and social burden to care for people with PTSD Inadequate response with US FDA approved SSRIs sertraline and paroxetine Polypharmacy the norm 4-arm, 12-week trial using 1-3 mg of brexpiprazole Monotherapy or in combination with sertraline ~330 patients to be enrolled Primary endpoint: Change from baseline in the CAPS-5 total score #) 1) US Census Bureau. Annual estimates of the resident population by sex and selected age groups for the United States: April 1, 2010 to July 1, 2011 (NC-EST ) *) NCT #) Clinician-Administered PTSD Scale for DSM-5 (CAPS-5) 19
20 Brexpiprazole Long-acting Injectable (LAI) entered phase I Brexpiprazole LAI More long-acting treatment options are needed Brexpiprazole has demonstrated efficacy for patients with schizophrenia without compromising safety and tolerability Dosing interval, route of administration and device presentation being evaluated LAI formulation with strong tolerability and adherence profile Validated formulation technology Brexpiprazole: Strong and evaluated safety profile The study*) Open-label trial to determine the pharmacokinetics and tolerability of brexpiprazole LAI administered subcutaneously or intramuscularly Estimated enrollment: 110 adult patients with schizophrenia Study start: January 2017 Expected completion: H *) Clinicaltrials.gov ID: NCT
21 Lu AF35700 offers significant potential in Treatment Resistant Schizophrenia (TRS) TRS Lu AF35700 Clinical programme Around 1/3 of schizophrenia patients are treatment resistant Psychiatrists readily recognize the term Treatment Resistant Schizophrenia (TRS) TRS is an inability to control symptoms of schizophrenia after a full round of two to three antipsychotics Unique mode of action. In contrast to current treatment, antipsychotic effect at low D 2 blockade Combined D 1 /D 2 and 5-HT 6 profile gives good activity combined with a benign tolerability profile Very long half-life leads to significantly reduced risk of relapse Four clinical studies have been conducted, three studies in healthy people and one in patients with schizophrenia 1) The first study (DayBreak) in the pivotal programme commenced in March ) Other key studies ongoing: Long-term safety study 3) Cardiac repolarization 4) ED or LD TRS (Anew) 5) 1) Clinicaltrials.gov identifier: NCT ) NCT ) NCT ) NCT ) NCT (early-in-disease (ED) or late-in-disease (LD) treatment-resistant schizophrenia (TRS)) 21
22 Study set-up in first study (DayBreak) in pivotal programme using lu AF35700 in Treatment Resistant Schizophrenia First study in pivotal programme Oral, once daily Approximately 1,000 patients Expected completion by H Primary endpoint Change in PANSS total score Secondary endpoints Clinical Global Impression Severity scale (CGI-S) Personal and Social Performance (PSP) total score Clinicaltrials.gov ID: NCT
23 Our path to category leadership Current products Pipeline Mood disorders Research projects LCM projects Psychotic Disorders LCM projects Research projects Lu AF35700 Alzheimer s Brexpiprazole Lu AF20513 Lu AF66432 TauAb Parkinson s Lu AF82422 LRRK2 23
24 Higher degree of transparency in future revenue drivers than Lundbeck has had historically >2030 Launched products Pipeline Lu AF35700 (Treatment Resistant Schizophrenia) Lu AF20513 (Alzheimer s) Lu AF66432 (Alzheimer s) Brexpiprazole LAI (schizophrenia) TauAb (Alzheimer s) Lu AF82422 (Parkinson s) LRRK2 (Parkinson s) 24
25 Finance & other 25
26 Strong growth in revenue and significant improvement in both gross margin and EBIT margin Financial results Q and H Q Q % DKKm H H % 4,283 3,751 14% Revenue 8,494 7,521 13% 76.8% 72.5% - Gross margin 76.9% 72.1% - 1, % EBIT 2, % 24.5% 12.5% - EBIT margin 24.3% 12.7% - 1, % Core EBIT 2,500 1,475 69% % Net profit 1, % % EPS % 26
27 Continued focus on cost discipline COS and SG&A ratio Highlights Headcount (FTEs) 70% 60% 50% 40% 30% 20% 10% SG&A ratio (%) COS ratio (%) Slight reduction in total costs while growing topline by 13% in H Lowest FTE level in close to 15 years CAPEX stable around DKK million per year % Q2.15 Q4.15 Q2.16 Q4.16 Q Q2.15 Q4.15 Q2.16 Q4.16 Q
28 Continued improvement in net cash Free cash flow (DKKm) Net cash position (DKKm) Highlights Substantial positive cash flow from operations Q2.15 Q4.15 Q2.16 Q4.16 Q Q2.14 Q4.15 Q2.16 Q4.16 Q Cash flow impacted by: Quarterly fluctuations in working capital Paid income tax Investments in securities Repayment of loans and dividend pay-out Net cash expected to reach around 3 billion in
29 Lundbeck on track to achieve an all-time high revenue and EBIT 2017 financial guidance raised DKKbn 2016 Previous 2017 guidance Revised 2017 guidance ~ % (y/y) Revenue % EBIT % EBIT margin 14.7% ~21-24% ~22-26%* - Assumptions 2017 will be impacted by additional generic erosion but also continued growth of key products EBIT for 2017 includes around DKK 240 million from divestiture of properties recognized as Other operating income No new one-off income and/or expenses included Unchanged currencies from beginning of August 2017 *) Excluding DKK ~240 million in total gains from divestiture of properties which are recognized as Other Operating Income 29
30 Key priorities Sustain sales momentum of key products Realize full benefits from restructuring programme Deliver on innovation Cash reallocation 30
31 31
32 CNS market overview Value USDbn Market size (2015) Market leaders (2015) Value Growth Volume Growth # of patients* Unmet medical needs Compound Total pharma % +2% Total CNS 134-3% +1% Share value Anti- Alzheimer s (N7D) % +3% >7 million Disease modifying treatment Disease slowing agents Improved symptomatic treatments Longer lasting symptomatic treatments 1. Memantine 2. Rivastigmine 3. Donepezil 4. Galantamine 50% 23% 21% 6% Antidepressants (N6A) % +5% ~40 million Drugs with higher remission rates Increased onset of action Current therapies are relatively well-tolerated but still room for improvement especially on sexual side effects 1. Duloxetine 2. Escitalopram 3. Bupropion 4. Venlafaxine 16% 10% 10% 9% Anti- Parkinson s (N4A) % +3% >3 million Therapies that provide neuroprotection and/or neurorestoration An optimal trial design for demonstrating neuroprotection and/or neurorestoration Control of levodopa-induced motor response complications 1.Rasagiline 2.Levodopa 3.Pramipexole 4.Rotigotine 16% 14% 14% 10% Antipsychotics (N5A) % +3% Approx 1% of global population Source: IMS Health Analytics Link 2016 (Audited sales), Growth, USD % y/y Improved treatment of cognitive dysfunction Improved treatment of negative symptoms Improved treatment of co-morbid depression and anxiety Early stage, definitive diagnostics 1.Aripiprazole 2.Quetiapine 3.Paliperidone Palmitate 4.Olanzapine 35% 14% 10% 9% 32
33 Lundbeck is a global, CNS-focused pharmaceutical company H sales* by product H sales* by region Largest markets for Lundbeck (H1 2017) USA Other pharma 50% Abilify Maintena 8% Brintellix/ Trintellix 9% Northera 9% Onfi 17% Int. Markets 22% Europe 17% North America 61% China Canada Japan Italy Rexulti 7% France *) Excluding Other revenue 33
34 Lundbeck is active in the investigation of various novel treatment concepts in Alzheimer s Reduce formation of Aβ by inhibition of BACE1 BACEi Aβ 1-42 γ-secretase inhibitors may have unwanted effects and are not pursued by Lundbeck APP* Lu AF20513 Reduce levels of Aβ by increased clearance TauAb Prevent spreading of misfoldet Tau Reduce levels of Tau protein tangles 34 *) APP : Amyloid Precursor Protein
35 Lu AF20513 an active therapeutic vaccine against β-amyloid Phase I study Study design 1) Wanted from study Low level of ARIA-E and ARIA-H 2) No meningo-encephalitis High antibody responder rate Fast antibody response (< 6 months) High affinity Aβ specific antibodies (for CNS clearance) Not wanted from study Aβ specific T-cells High IgM over IgG ratio Very low responder rate Purpose: 35 patients from centres in Europe Patients with mild Alzheimer s (MMSE 19-26) Four injections of Lu AF20513 Evaluate safety and tolerability Measure Aβ-specific antibody titter Phase I commenced in Q Expected completion: mid ) NCT ) Amyloid Related Imaging Abnormalities (ARIA): ARIA-E refers to the MR signal alterations thought to represent vasogenic edema (VE) and related extravasated fluid phenomena. ARIA-H refers to the MR signal alterations on attributable to micro hemorrhages (mh) and hemosiderosis 35
36 BACE-1 inhibition to stop the production of β-amyloid, aimed at slowing the disease progression BACE 1) BACE was identified in ) Enzyme that initiates the production of the Alzheimer s associated peptide Aβ Lu AF66432 NCE targeting inhibition of BACE1 enzyme Disease modifying treatment that fits well with Lundbeck s Alzheimer s portfolio 1) β-amyloid precursor protein site cleaving enzyme (BACE). 2) Vassar, R. et al. b-secretase cleavage of Alzheimer s amyloid precursor protein by the transmembrane aspartic protease BACE. Science 286, (1999). Nature Reviews Neuroscience 8, (July 2007) 36
37 Increasing evidence suggests abnormal tau and amyloid work together to cause nerve cell death TAU Tau, a microtubuleassociated protein first discovered in 1975 TauAb Tau aggregation inhibition for the treatment of Alzheimer s In a healthy brain, tau has an important function, acting as a form of scaffolding to keep cells stable, but in Alzheimer s, tau loses its normal form and breaks away from the cell 37
38 Alpha-synuclein a potential therapeutic Parkinson s vaccine α-synuclein A role for α-synuclein in PD was first suggested in 1997 Propagation of α-synuclein misfolding and aggregation seems to be at the heart of most types of Parkinson s Many preclinical studies suggest that α-synuclein can behave in a prion-like fashion, with misfolding and aggregation, and propagation from neuron to neuron Lu AF82422 Collaboration with Genmab entered in 2010 Clearance of pathological α- synuclein via antibody objective to delay disease progression in symptomatic PD A treatment that could slow or stop Parkinson s progression Nature Reviews Neuroscience 4, (September 2003) 38
39 The role of leucine-rich repeat kinase 2 (LRRK2) or dardarin in Parkinson s LRRK2 Discovered in 2004 Inhibition of LRRK2 kinase to delay disease progression in early stage PD with focus on genetic identified patients LRRK2 is widely expressed in many organs and tissues including the brain LRRK2 might act upstream of α- synuclein and its aggregation in Lewy bodies Drug discovery collaborations In December 2010, Lundbeck signed agreements with Zenobia Therapeutics and Vernalis plc Lundbeck utilizes Zenobia's expertise in protein expression and x-ray crystallography for the LRRK2 target The Vernalis agreement focus on a drug discovery collaboration utilising Vernalis' fragment and structure-based drug discovery platform Mark R. Cookson; The Lancet Neurology; December 2010, vol. 11. Nature Reviews Neuroscience 11, (December 2010) 39
40 Financial terms and territory structure of the Otsuka alliance entered in November 2011 Milestone payments Lundbeck s share of revenue and costs Payment to: Development milestones/upfront Abilify Maintena Rexulti Selincro USD 200m USD 600m 3) EUR 105m* Abilify Maintena Rexulti Selincro USA 20% 45% - Approval milestones USD 275m 1) USD 300m 2) Undisclosed EU-5, Nordic and Canada 50% 50% - Sales milestones Up to USD 425m depending on sales development Other Lundbeck territories 65%** 65%** Undisclosed Undisclosed 1) USD 100m upon US approval, USD 75m upon EU approval in schizophrenia, and USD 50m US and EU for a second indication. 2) USD 100m (US) and USD 50m (EU) for each of the two first indications 3) Development milestones of up to USD 600m after which shared development costs between parties. 4) USD 125m, USD 25m and USD 50m for first indication in the US, EU and Japan respectively. Second indication gives USD 50m, USD 25m and USD 25m, respectively. * Includes sales milestones ** All regions except Asia, Turkey and Egypt *** All regions except Thailand and Vietnam Selincro for Japan added to the alliance in October
41 Cash flow priorities: Increasing dividends linked to long-term performance Lundbeck s extended actions to return cash to shareholders demonstrate our conviction in our future Debt reduction Net cash positive already in 2016 Repay remaining debt Increase strategic cash reserve Dividends Pay-out ratio of 40% for 2016 Dividend policy revised: Pay-out ratio raised to 60-80% from 2017 Business development and/or additional cash reallocation Maintain investment grade status i.e. NIBD/EBITDA <2.0x 41
42 Financial targets Targets within the period Achievements on targets H EBIT margin 24.3% 14.7% (46.7%) ROIC (annualized) 26.6% 13.2% (45.4%) Cash-to-Earnings 58.6% 230.3% N/A EBIT margin ROIC Cash-to-earnings 25% 25% >90% Dividend pay-out Net debt/ebitda Dividend Pay-out N/A 40% 0% 60-80% <2x Net debt/ebitda (0.4) (0.1) 10.7 Financial policies 42
43 H and FY Product distribution of revenue DKKm FY 2016 FY 2015 H H Growth Growth in local currencies % of total TOTAL: Abilify Maintena 1, % 24% 8% Brintellix/Trintellix 1, % 60% 9% Cipralex/Lexapro 2,518 2,591 1,286 1,333 (4%) (3%) 15% Northera 1, % 59% 8% Onfi 2,409 1,757 1,448 1,128 28% 27% 17% Rexulti % 84% 7% Sabril 1, % 25% 9% Xenazine 1,571 2, (34%) (35%) 6% Other pharmaceuticals 3,337 4,652 1,579 1,663 (5%) (4%) 19% Other revenue (30%) (30%) 2% Total revenue 15,634 14,594 8,494 7,521 13% 13% 100% 43
44 H and FY Geographic distribution of revenue - 1 DKKm FY 2016 H H Growth Growth in local currencies % of total NORTH AMERICA: Abilify Maintena % 15% 6% Trintellix % 41% 9% Northera 1, % 59% 14% Onfi 2,409 1,448 1,128 28% 27% 28% Rexulti % 84% 11% Sabril 1, % 25% 15% Xenazine 1, (35%) (36%) 10% Other pharmaceuticals % 6% 7% Total revenue 9,122 5,115 4,190 22% 21% 100% 44
45 H and FY Geographic distribution of revenue - 2 DKKm FY 2016 H H Growth Growth in local currencies % of total EUROPE: Abilify Maintena % 31% 23% Brintellix % 83% 13% Cipralex (11%) (13%) 23% Other pharmaceuticals 1, (19%) (18%) 41% Total revenue 2,912 1,433 1,453 (1%) (1%) 100% INTERNATIONAL MARKETS: Abilify Maintena % 36% 3% Brintellix % 109% 9% Cipralex/Lexapro 1, % 1% 47% Ebixa % 7% 15% Other pharmaceuticals % 5% 26% Total revenue 3,275 1,810 1,683 8% 9% 100% 45
46 H Cash generation DKKm H H FY 2016 FY 2015 Cash flows from operating activities 1, , Cash flows from investing activities (517) (96) (337) (2,842) Cash flows from operating and investing activities ,789 (2,645) Cash flows from financing activities (1,442) (674) (2,006) 501 Net cash flow for the period (742) (2,144) Cash, bank balances and securities, end of period 1,961 1,453 2,217 1,521 Interest-bearing debt (909) (3,231) (1,891) (3,770) Net cash/(net debt) 1,052 (1,778) 326 (2,249) 46
47 H and FY Balance sheet and dividend DKKm Dividend (DKK) Intangible assets 7,880 8,839 Other non-current assets 3,311 3, Dividend Yield (r.h.s.) 4% 3% Current assets 8,008 7,524 Assets 19,199 20,210 Equity 10,695 9, % 1% Non-current liabilities 1,861 2,740 Current liabilities 6,643 7,776 Equity and liabilities 19,199 20,210 Cash and bank balances 1,443 2,200 Securities Interest-bearing debt (909) (1,891) Interest-bearing debt, cash, bank balances and securities, net end of period 1, % Dividend of DKK 2.45 per share for 2016, corresponding to a payout ratio of 40% A total of DKK 484 million and a yield of 0.9%* Dividend policy: From 2017 and onwards the pay-out ratio will be 60-80% *Based on the share price of DKK
48 Costs Full year figures DKKm ( %) 2015 ( %) Revenue 15,634 14,594 13,468 7% 8% Cost of sales 4,082 5,395 4,160 (24%) 30% Sales & Distribution costs 5,488 6,706 5,164 (18%) 30% Administrative expenses 805 1,160 1,134 (31%) 2% R&D costs 2,967 8,149 2,911 2) (64%) 180% Total costs 13,342 21,410 1) 13,369 (38%) 60% EBIT 2,292 (6,816) Core EBIT 3, , % (31%) Cost of sales 26% 37% 31% - - Sales & Distribution costs 35% 46% 38% - - Administrative expenses 5% 8% 8% - - R&D costs 19% 56% 22% - - EBIT margin 15% (47%) 1% - - Included are 1) Restructuring costs and impairment of product rights of around DKK 7bn. 2) Writedown of desmoteplase of DKK 309m 48
49 For more information please contact Investor Relations Share information Lundbeck s shares are listed on the stock exchange in Copenhagen under the symbol LUN. Lundbeck has a sponsored Level 1 ADR programme listed in the US (OTC) under the symbol HLUYY. For additional company information, please visit Lundbeck at: Contact information Palle Holm Olesen VP; Head of Investor Relations Mobile: palo@lundbeck.com or polesen3@bloomberg.net Financial calendar Q November 2017 Q February
50 Thank you! 50
INVESTOR & ANALYST PRESENTATION. Winter 2017
INVESTOR & ANALYST PRESENTATION Winter 2017 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions,
More informationJEFFERIES 2016 HEALTHCARE CONFERENCE. June 2016
JEFFERIES 2016 HEALTHCARE CONFERENCE June 2016 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions,
More informationInvestor & Analyst presentation. February 2018
Investor & Analyst presentation February 2018 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions,
More informationTELECONFERENCE Q November 2015
TELECONFERENCE Q3 2015 4 November 2015 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions,
More informationTELECONFERENCE Q August 2015
TELECONFERENCE Q2 2015 19 August 2015 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions,
More informationTELECONFERENCE FY February 2015
TELECONFERENCE FY 2014 5 February 2015 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions,
More informationInvestor & Analyst Presentation. February 2019
Investor & Analyst Presentation February 219 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions,
More informationH. LUNDBECK A/S. Teleconference. 10 August PM CET. Financial results Second quarter 2011
H. LUNDBECK A/S Teleconference 10 August 2011-2PM CET Financial results Second quarter 2011 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts
More informationINVESTOR PRESENTATION JEFFERIES 2013 HEALTHCARE CONFERENCE. June 2013
INVESTOR PRESENTATION JEFFERIES 2013 HEALTHCARE CONFERENCE June 2013 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events
More informationCorporate Release No March 2013
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby, Copenhagen Fax +45 36 43 82 62 www.lundbeck.com CVR number: 56759913 26 March 2013 Corporate Release No 497
More informationINVESTOR & ANALYST PRESENTATION. Spring 2016
INVESTOR & ANALYST PRESENTATION Spring 2016 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions,
More informationJefferies 2012 Global Healthcare Conference
H. LUNDBECK A/S Jefferies 2012 Global Healthcare Conference June 2012 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events
More informationINVESTOR & ANALYST PRESENTATION. Winter 2016
INVESTOR & ANALYST PRESENTATION Winter 2016 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions,
More information30 th Annual J.P. Morgan Healthcare Conference
H. LUNDBECK A/S 30 th Annual J.P. Morgan Healthcare Conference January 2012 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future
More informationSEB Nordic Seminar Prologue
H. LUNDBECK A/S SEB Nordic Seminar Prologue 9 January 2012 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new
More informationLundbeck and Otsuka Pharmaceutical sign historic agreement to deliver innovative medicines targeting psychiatric disorders worldwide
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby, Copenhagen Fax +45 36 43 82 62 www.lundbeck.com CVR number: 56759913 11 November 2011 Corporate Release No 450
More informationInvestor Presentation Jefferies 2011 Global Healthcare Conference, London
H. LUNDBECK A/S Investor Presentation Jefferies 2011 Global Healthcare Conference, London September 2011 Company disclaimer This presentation contains forward-looking statements that provide our expectations
More informationSlide 1. Financial update and closing remarks. Jesper Brandgaard EVP and CFO. RAFAEL DE JESÚS FLORES, Mexico Rafael has haemophilia A
Slide 1 Financial update and closing remarks Jesper Brandgaard EVP and CFO RAFAEL DE JESÚS FLORES, Mexico Rafael has haemophilia A Slide 2 Forward-looking statements Novo Nordisk s reports filed with or
More informationSlide 1. Investor presentation. London 5 February 2019
Slide Investor presentation London 5 February 209 Slide 2 Forward-looking statements Novo Nordisk s reports filed with or furnished to the US Securities and Exchange Commission (SEC), including this presentation
More informationINVESTOR & ANALYST PRESENTATION. November 2015
INVESTOR & ANALYST PRESENTATION November 2015 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions,
More informationInvestor Presentation UBS Life Sciences Conference 2011
H. LUNDBECK A/S Investor Presentation UBS Life Sciences Conference 2011 September 2011 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts
More informationINVESTOR & ANALYST PRESENTATION. Autumn 2015
INVESTOR & ANALYST PRESENTATION Autumn 2015 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions,
More informationA world leader in allergy immunotherapy
A world leader in allergy immunotherapy Investor Relations presentation June 2017 1 I Investor Relations presentation I June 2017 ALK: Towards redefining treatment of severe allergies The commercial leader
More informationPutting ALK on the right growth trajectory
Putting ALK on the right growth trajectory Økonomisk Ugebrevs Kapitalmarkedseftermiddag 15. marts 2018 Per Plotnikof, VP Corporate Communications and IR Marts 2018 Allergy: a global disease with a large
More informationCorporate Presentation
Corporate Presentation March 2018 Safe Harbor Statement Factors Affecting Future Performance This presentation contains "forward-looking" statements within the meaning of the United States Private Securities
More informationCorporate Presentation Asia Investment Series March 2018
Corporate Presentation Asia Investment Series March 2018 Safe Harbor Statement Factors Affecting Future Performance This presentation contains "forward-looking" statements within the meaning of the United
More informationA world leader in allergy immunotherapy. Jefferies Global Healthcare Conference, London : 19 November 2014 : Flemming Pedersen, CFO & EVP
A world leader in allergy immunotherapy ALK at a glance Leading allergy immunotherapy (AIT) specialist AIT: Treats the root cause of allergy Products in all areas of AIT ALK has 33% of the global AIT market
More informationDepression Disease Market and Forecast Analysis 2024 Report Extract
Datamonitor Healthcare Pharma intelligence Depression Disease Market and Forecast Analysis 2024 Report Extract Find out more about the full report Contents (for full report) 10 FORECAST: DEPRESSION (Published
More informationOral semaglutide and production expansion. Henrik Wulff EVP Product Supply. Peter Kristensen SVP Global Development
YASMIN FIEDLER Germany Yasmin has type 1 diabetes Slide 1 Oral semaglutide and production expansion Henrik Wulff EVP Product Supply Peter Kristensen SVP Global Development Slide 2 Forward-looking statements
More informationColoplast A/S. Investor presentation 1H 2005/06
Coloplast A/S Investor presentation 1H 2005/06 2 Coloplast Coloplast products and services help patients achieve greater independence from medical challenges in 4 areas: Ostomy care, continence care, wound
More information1Q Fornebu, April 29, 2015 Luis Araujo and Svein Stoknes
1Q 2015 Fornebu, April 29, 2015 Luis Araujo and Svein Stoknes Forward-Looking Statements and Copyright This Presentation includes and is based, inter alia, on forward-looking information and statements
More informationUCB, with a strong year 2017, is reinforcing a solid foundation for investing in future growth
Brussels (Belgium), February 018 7:00 (CET) regulated information UCB Full Year Report 017: UCB, with a strong year 017, is reinforcing a solid foundation for investing in future growth Positive growth
More informationSlide 1. International Operations update. Mike Doustdar EVP International Operations. YASMIN FIEDLER, Germany Yasmin has type 1 diabetes
Slide 1 International Operations update Mike Doustdar EVP International Operations YASMIN FIEDLER, Germany Yasmin has type 1 diabetes Slide 2 Forward-looking statements Novo Nordisk s reports filed with
More informationINVESTOR & ANALYST PRESENTATION. Spring 2015
INVESTOR & ANALYST PRESENTATION Spring 2015 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions,
More informationValue creation through profitable growth Danske Bank Winter Seminar 2017, Copenhagen Lars Rasmussen, President & CEO
Value creation through profitable growth Danske Bank Winter Seminar 2017, Copenhagen Lars Rasmussen, President & CEO Forward-looking statements The forward-looking statements contained in this presentation,
More informationIncrease in revenues in line with full-year targets (+1.2%) Very strong growth of Oralair exc. USA (+26%) H revenues and results - 24 July 2014
Increase in revenues in line with full-year targets (+1.2%) Very strong growth of Oralair exc. USA (+26%) ( ) H1 2014 revenues and results - 24 July 2014 Forward-looking statement This presentation contains
More informationFor personal use only
HY18 Result Presentation 13 February 2018 Dig Howitt Brent Cubis CEO & President CFO HY18 Result highlights Strong momentum across developed markets continues Developed market unit growth up 12% Strengthening
More informationDELICA D:5 ACTIVE GEAR 0
DELICA D:5 ACTIVE GEAR 0 1 1. FY2017 1Q Results 2. FY2017 1Q Results by Region 3. FY2017 Forecast 4. Initiatives for the Future FY2017 1Q Results Summary (vs. FY2016 1Q) (Apr-Jun 2016) (Apr-Jun 2017) (billion
More informationPresentation of ALK London, 24 May 2011 UBS GLOBAL SPECIALTY PHARMACEUTICALS CONFERENCE : LONDON : 24 MAY 2011
Presentation of ALK London, 24 May 2011 1 ALK pharma specialist - treatment, prevention and diagnosis of allergies World leader in allergy immunotherapy ~ 33% global market share Expanding Base Business
More informationValue creation through profitable growth Handelsbanken Nordic Large Cap Seminar, Stockholm 2016 Anders Lonning-Skovgaard, CFO
Value creation through profitable growth Handelsbanken Nordic Large Cap Seminar, Stockholm 2016 Anders Lonning-Skovgaard, CFO Coloplast has four business areas all with global sales presence Group revenue
More informationSlide 1. Welcome and introduction. Lars Rebien Sørensen President & CEO
Slide 1 Lars Rebien Sørensen President & CEO Slide 2 Capital Markets Day 2015 Slide 3 Forward-looking statements Novo Nordisk s reports filed with or furnished to the US Securities and Exchange Commission
More informationInternational Operations overview and strategy. Maziar Mike Doustdar EVP International Operations. Slide 1
Slide 1 International Operations overview and strategy Maziar Mike Doustdar EVP International Operations KUALA LUMPUR Home of International Operations Business Area Southeast Asia Slide 2 Forward-looking
More informationINTERIM RESULTS AS OF JUNE 30, 2014 CSE/OMX:BAVA, OTC:BVNRY
INTERIM RESULTS AS OF JUNE 30, 2014 Q2 AUGUST 28, 2014 CSE/OMX:BAVA, OTC:BVNRY FINANCIAL HIGHLIGHTS 2.6 million doses IMVAMUNE delivered to the SNS during H1 (0.9 million in Q2) Increased contribution
More informationValneva Reports Strong 2017 Revenues Driven by Double Digit Product Sales Growth
Valneva Reports Strong 2017 Revenues Driven by Double Digit Product Sales Growth Strong sales performance in 2017 (unaudited) Total revenues of 109.8 million in 2017 (2016-97.9 million) representing year-on-year
More informationCorporate Presentation August 6, 2015
Corporate Presentation August 6, 2015 Creating the Next Generation of CNS Drugs Forward-Looking Statement This presentation contains forward-looking statements. These statements relate to future events
More informationSlide 1. Welcome and strategy update. Lars Fruergaard Jørgensen President and CEO
Slide 1 Lars Fruergaard Jørgensen President and CEO Slide 2 Forward-looking statements Novo Nordisk s reports filed with or furnished to the US Securities and Exchange Commission (SEC), including the company
More informationDainippon Sumitomo Pharma
Progressing Towards an Internationally Competitive R&D-Oriented Pharmaceutical Company Dainippon Sumitomo Pharma Masayo Tada President and CEO 29th Annual J.P. Morgan Healthcare Conference January 11,
More informationInvestor Presentation
Investor Presentation February 2018 2 FORWARD-LOOKING INFORMATION The following presentation contains statements that are considered forward-looking information ( FLI ) within the meaning of securities
More informationInvestor Presentation June 2012 NASDAQ: CEMI
Investor Presentation June 2012 NASDAQ: CEMI Forward-Looking Statements Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act
More informationNewron announces 2018 financial results and provides outlook for 2019
Newron announces 2018 financial results and provides outlook for 2019 Milan, Italy, March 5, 2019 Newron Pharmaceuticals S.p.A. ( Newron ), a biopharmaceutical company focused on the development of novel
More informationFor personal use only
Cochlear Limited Results for the half year ended 31 December 2011 (H1 F12) Chris Roberts, CEO Neville Mitchell, CFO Cochlear Overview Cochlear Limited (ASX:COH): global leader in implantable devices for
More informationDS-8201 Strategic Collaboration
DS-8201 Strategic Collaboration DAIICHI SANKYO CO., LTD George Nakayama Chairman and CEO March 29, 2019 Forward-Looking Statements Management strategies and plans, financial forecasts, future projections
More informationCompany presentation. SEB Nordic Seminar Bella Sky, Copenhagen. Carsten Hellmann, President & CEO 9 January 2018
Company presentation SEB Nordic Seminar Bella Sky, Copenhagen Carsten Hellmann, President & CEO 9 January 2018 Allergy: a global disease with a large unmet need >500 million people affected by allergic
More informationForward-Looking Statements
Investor Presentation May 2012 Forward-Looking Statements Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended.
More informationA world leader in allergy immunotherapy
A world leader in allergy immunotherapy Company presentation Per Plotnikof, VP Corporate Communications and IR 1 I ALK at a glance Commercial leader and foremost innovator within respiratory allergies
More informationMoving closer to people with allergy
Moving closer to people with allergy Investor Relations Presentation January 2017 1 I Investor Relations Presentation January 2017 ALK: Towards redefining treatment of severe allergies The commercial leader
More informationHyundai Motor Company 1 st Quarter 2011 Business Results. April 28, 2011
Hyundai Motor Company 1 st Quarter 2011 Business Results April 28, 2011 Cautionary Statement with Respect to Forward-Looking Statements In the presentation that follows and in related comments by Hyundai
More informationStraumann s net revenues reach CHF 185 million in Q1, driven by continuing double-digit growth in America
Media release Straumann s net revenues reach CHF 185 million in Q1, driven by continuing double-digit growth in America Group net revenue rises 2% (l.c.) as double-digit increases across America offset
More informationADM to Acquire Neovia and Probiotics International Limited. July 2, 2018
ADM to Acquire Neovia and Probiotics International Limited July 2, 2018 Safe Harbor Statement 2 Some of our comments constitute forward-looking statements that reflect management s current views and estimates
More informationUniversal Biosensors, Inc.
Universal Biosensors, Inc. ARBN 121 559 993 Buchan Three Tickers Presentation 18 th September 2013 1 Important Disclaimer This presentation is intended to provide a general outline only and is not intended
More informationALK-Abelló A/S. Click View,Header and Footer to change this text to filename and department name
ALK-Abelló A/S June 25, 2008 Click View,Header and Footer to change this text to filename and department name 1 Changing the way we treat allergy Piper Jaffray 19th Annual Health Care Conference, New York
More informationINTERIM RESULTS AS OF MARCH 31, 2014 CSE/OMX:BAVA, OTC:BVNRY
INTERIM RESULTS AS OF MARCH 31, 2014 Q1 MAY 14, 2014 CSE/OMX:BAVA, OTC:BVNRY FINANCIAL HIGHLIGHTS 1.7 million doses delivered to the SNS during Q1 Full year financial expectations maintained DKK million
More informationResMed Inc. 36 th Annual J.P. Morgan Healthcare Conference
ResMed Inc. 36 th Annual J.P. Morgan Healthcare Conference Mick Farrell CEO January 8, 2018 Safe Harbor Statement Statements contained in this presentation that are not historical facts are forwardlooking
More informationForward Looking Information
Vital Signs, Inc. Forward Looking Information Except for historical information discussed, the statements made today are forward-looking statements that involve risks and uncertainties. Investors are cautioned
More informationTHE NEXT GROWTH PHASE
THE NEXT GROWTH PHASE Investor Briefing Non-Deal Roadshow March 2019 Melbourne Sydney CLINUVEL PHARMACEUTICALS LTD Darren Keamy, Chief Financial Officer Malcolm Bull, Investor Relations Manager ASX: CUV
More informationINVESTOR PRESENTATION
INVESTOR PRESENTATION May 2018 2 FORWARD-LOOKING INFORMATION The following presentation contains statements that are considered forward-looking information ( FLI ) within the meaning of securities regulation.
More informationFebruary 23, Q4 and Year-End 2016 Financial Results
February 23, 2017 Q4 and Year-End 2016 Financial Results 2 RETHINKING CNS Agenda Today s Speakers Paul Cox, Senior Director, Investor Relations Jeff Jonas, M.D., Chief Executive Officer Jim Doherty, Ph.D.,
More informationSumitomo Dainippon Pharma to Acquire Tolero Pharmaceuticals, Inc. (US Biotechnology Company)
December 21, 2016 Sumitomo Dainippon Pharma Co., Ltd. Sumitomo Dainippon Pharma to Acquire Tolero Pharmaceuticals, Inc. (US Biotechnology Company) Sumitomo Dainippon Pharma Co., Ltd. (Head office: Osaka,
More informationBNC210 Update BNO (Australia: ASX) BNOEF (USA: OTCQX) 18 February 2019 Central Nervous System (CNS)
BNC210 Update BNO (Australia: ASX) BNOEF (USA: OTCQX) 18 February 2019 Central Nervous System (CNS) Safe Harbor Statement Factors Affecting Future Performance This presentation contains "forward-looking"
More informationUCB announces first presentation of primary data from latest Phase 3 study evaluating brivaracetam
UCB announces first presentation of primary data from latest Phase 3 study evaluating brivaracetam as adjunctive treatment of partial-onset seizures in epilepsy Primary efficacy and safety data from the
More informationPhotocure ASA Executing the Strategy
Photocure ASA Executing the Strategy NOVEMBER 2012 ERIK DAHL, CFO KATHLEEN DEARDORFF, COO Disclaimer The information included in this Presentation contains certain forward-looking statements that address
More informationAstraZeneca to Acquire Bristol- Myers Squibb Share of Global Diabetes Alliance. Becoming Global Leaders In Diabetes
AstraZeneca to Acquire Bristol- Myers Squibb Share of Global Diabetes Alliance Becoming Global Leaders In Diabetes 19th December 2013 Cautionary Statement Regarding Forward-Looking Statements In order,
More informationQ Investor Kit JANUARY-JUNE 2013
Q2 2013 Investor Kit JANUARY-JUNE 2013 1 Swedish Match reporting segments Snus and snuff - Swedish snus (Scandinavia and US) - Moist snuff (US) - SMPM International Other tobacco products - Cigars (US)
More informationFY2009 First Quarter Financial Results. SUZUKI MOTOR CORPORATION August 3, 2009
FY2009 First Quarter Financial Results SUZUKI MOTOR CORPORATION August 3, 2009 Consolidated: Financial Summary Page 2 FY2009 1Q FY2008 4Q 09/4-6 09/1-3 Change FY2008 1Q 08/4-6 Change (Billion Yen) (A)
More informationThird-quarter results 2013
Third-quarter results 213 Fornebu, 6 November 213 Øyvind Eriksen and Leif Borge Agenda 213 Introduction Øyvind Eriksen Executive chairman Financials Leif Borge President & CFO Q&A Q&A session Øyvind Eriksen
More informationSlide 1. Winning with GLP-1. Lars Fruergaard Jørgensen President and CEO. ALEXANDRE DE GREGORIO, Brazil Alexandre has type 2 diabetes
Slide 1 Lars Fruergaard Jørgensen President and CEO ALEXANDRE DE GREGORIO, Brazil Alexandre has type 2 diabetes Slide 2 Forward-looking statements Novo Nordisk s reports filed with or furnished to the
More informationLeading Intimate Healthcare. Investor presentation Q1 2007/08
Leading Intimate Healthcare Investor presentation Q1 2007/08 1 2 Agenda Introduction to Coloplast Q1 2007/08 in headlines Outlook for 2007/08 Strategic targets Leading intimate healthcare Appendices Q1
More informationSupernus Pharmaceuticals
Supernus Pharmaceuticals Jefferies 2016 Healthcare Conference May 2016 1 Safe Harbor Statement This presentation and other matters discussed today or answers that may be given to questions asked include
More informationDIEBOLD NIXDORF AG AT GERMANY EQUITY FORUM
November 28, 2017 DIEBOLD NIXDORF AG AT GERMANY EQUITY FORUM Dr. Jürgen Wunram Agenda Diebold Nixdorf AG History and shareholder structure Market trends, strategy and progress of integration Diebold Nixdorf
More informationSupernus Pharmaceuticals
Supernus Pharmaceuticals Investor Presentation March 2017 1 Safe Harbor Statement This presentation and other matters discussed today or answers that may be given to questions asked include forward-looking
More informationQ Investor Kit JANUARY-MARCH 2014
Q1 2014 Investor Kit JANUARY-MARCH 2014 Swedish Match reporting segments Snus and moist snuff Snus (Scandinavia and US) Moist snuff (US) SMPM International Other tobacco products Cigars (US) Chewing tobacco
More informationConsolidated: Financial Summary
FY2010 First Quarter Financial Results SUZUKI MOTOR CORPORATION 3 August 2010 Consolidated: Financial Summary Page2 FY2010 1Q FY2009 1Q (2010/4-6) (2009/4-6) Change Net sales 656.3 577.1 +79.2 +13.7% Operating
More informationSlide 1. Investor Presentaton Jefferies Global Healthcare Conference. New York, 7 June Shanghai part of Cities Changing Diabetes
Slide 1 Investor Presentaton Jefferies Global Healthcare Conference New York, 7 June 2016 Shanghai part of Cities Changing Diabetes Slide 2 Forward-looking statements Novo Nordisk s reports filed with
More informationEnhancing Corporate Value
Goldman Sachs Twenty Sixth Annual Healthcare Conference Enhancing Corporate Value Eisai Co., Ltd. June 15, 2005 Please refer to the US Roadshow, June 2005 material in our WEB site for further information
More informationA GLOBAL LEADER IN PERSONALIZED NUTRITION
A GLOBAL LEADER IN PERSONALIZED NUTRITION Forward Looking Statements Management will make forward-looking statements during this presentation. Actual results could differ from those projected in such forward-looking
More informationCorporate Release. H. Lundbeck A/S
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail info@lundbeck.com DK-2500 Valby, Copenhagen Fax +45 36 43 82 62 www.lundbeck.com CVR number: 56759913 LEI code: 5493006R4KC Corporate Release FDA
More informationInvestor & Analyst Presentation Second quarter 2011
H. LUNDBECK A/S Investor & Analyst Presentation Second quarter 2011 August 2011 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future
More informationIntercell and Novartis form world leading strategic partnership to drive vaccines innovation
Intercell and Novartis form world leading strategic partnership to drive vaccines innovation Alliance creates opportunity for two strong innovators to combine development efforts in attractive areas Intercell
More information35 th Annual J.P. Morgan Healthcare Conference
35 th Annual J.P. Morgan Healthcare Conference Forward Looking Statement This presentation includes forward-looking statements. All statements, other than statements of historical facts, regarding management's
More informationWe improve quality of life by preventing and curing allergy
We improve quality of life by preventing and curing allergy SEB Enskilda Nordic Small & Mid Cap Seminar 2008 Jens Bager, President & CEO ALK-Abelló a fast growing pharmaceutical company Global pharmaceutical
More informationAugust 7, Q Financial Results
August 7, 2018 Q2 2018 Financial Results 1 Agenda Today s Speakers Paul Cox, Senior Director, Investor Relations Jeff Jonas, M.D., Chief Executive Officer Steve Kanes, M.D., Ph.D., Chief Medical Officer
More informationINVESTOR & ANALYST PRESENTATION. May 2013
INVESTOR & ANALYST PRESENTATION May 2013 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions,
More informationMerrill Lynch Healthcare Conference New York
Merrill Lynch Healthcare Conference New York Matthew Emmens Chief Executive Officer February 3, 2004 A Strategic Review Today and Beyond Clear Strengths Highly successful business model Strong pipeline
More informationSlide 1. Investor presentation. Copenhagen 1 November 2018
Slide 1 Investor presentation Copenhagen 1 November 2018 Manato Shirley Ohara, Adelia Stewart diagnosed has type with 2 diabetes type 1 diabetes Kanagawa, New Orleans, Japan Louisiana, US Slide 2 Highlights
More informationCommitted to Transforming the Treatment Paradigm for Migraine Prevention
June 14, 2018 Committed to Transforming the Treatment Paradigm for Migraine Prevention September 6, 2018 Forward-Looking Statements This presentation and the accompanying commentary contains certain forward-looking
More informationInvestor Presentation
ASX:THC B u i l d i n g a M e d i c i n a l C a n n a b i s B u s i n e s s Investor Presentation November 2017 DISCLAIMER The material in this presentation (material) is not and does not constitute an
More informationPhotocure ASA Executing the Strategy
Photocure ASA Executing the Strategy DECEMBER 6, 2012 KJETIL HESTDAL, CEO Disclaimer The information included in this Presentation contains certain forward-looking statements that address activities, events
More informationQ Investor Kit JANUARY-JUNE 2014
Q2 2014 Investor Kit JANUARY-JUNE 2014 Swedish Match reporting segments Snus and moist snuff Snus (Scandinavia and US) Moist snuff (US) SMPM International Other tobacco products Cigars (US) Chewing tobacco
More informationInvestor Presentation Q1 2011
H. LUNDBECK A/S Investor Presentation Q1 2011 May 2011 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product
More information